Even Samsung is jumping onto the cryptocurrency bandwagon now

Cryptocurrency is all the rage these days. It’s the modern-day California Gold Rush with miners rushing to grab as many coins as possible to build their fortunes. As a result, the demand for GPU’s has skyrocketed, which has hurt PC gamers heavily. Yet, there are no signs of this tale ending anytime soon. And now there’s a new player entering the fray: Samsung.

Samsung is entering the cryptocurrency world

According to a recently reported deal, Samsung has begun manufacturing hardware specialized for cryptocurrency mining. To be precise, it has begun manufacturing ASIC (application-specific integrated circuit) chips. The deal would see the company supply this hardware to an unnamed Chinese mining equipment provider. The Chinese-based partner would then distribute these chips.

Samsung is also expected to be ready to start mass production soon. Furthermore, the company stated in its Q4 earnings report that it is expecting great demand from cryptocurrency mining chips. As such, it would serve as a foundry that manufactures the chips. Meanwhile, other companies would distribute the chips to miners.

Of course, this isn’t the first time Samsung has explored cryptocurrency mining. Previously, the company built a mining rig using 40 old Galaxy S5 phones. This was a part of its upcycling initiative where the devices mined bitcoin using a new operating system. A few months later, the company signed an agreement with Bitcoin mining firm Baikal, which is based in Russia.

The mining rig using Galaxy S5 Phones

Of course, Samsung isn’t the only one exploring possibilities of manufacturing hardware for cryptocurrency mining. There’s also Kodak, which hasn’t garnered as much interest. Nonetheless, the news of Samsung entering the mining hardware space is likely to stir things up.

As such, it would encourage the company’s new competitors like Canaan Creative to step things up. Either way, it looks like the cryptocurrency rush will continue. And with that, the price of the GPU for your next gaming PC is still likely to leave a huge hole in your wallet.

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Venture Frontier Lanka is bringing experts in entrepreneurship from around the country to cities throughout Sri Lanka to train local entrepreneurs to think differently about the ventures they will start.

Event Details

Venture Frontier Lanka is bringing experts in entrepreneurship from around the country to cities throughout Sri Lanka to train local entrepreneurs to think differently about the ventures they will start. A caravan stop consists of different sessions about creating unique ideas for startup ventures and strategies for financing those ideas.

Come join the sessions on the 19th of December, starting with 2 pm at Sri Lanka Institute of Information Technology.
The event is free of charge! REGISTRATION is mandatory for this event

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Early Bird till the 16th of Dec: 20% discount
Likuid Members: 20% discount
Female/Social Entrepreneurs (Locals Only): 50% discount
Join for a one day workshop where we unchain the collective wisdom and creativity

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Join for a one day workshop where we unchain the collective wisdom and creativity to help each other having a more productive digital nomad new year and build better cooperations for teamwork.

During this peer to peer learning session you can share your experiences to help others and learn from other practitioners. Together, dive into the most painful problems and brainstorm on solutions. It’s for you if you resonate with some of these questions:

How do I integrate work, life and travel?
How do I keep motivated to achieve?
How do I keep engaged with a client?
How do I manage my time and energy?
How do I get clients?
How do I find people to collaborate with?
How to deal with time differences?
How can I make human interactions with slack profiles?
How to set realistic goals in constantly changing environment?
What are the best tools & methods for productivity?
What’s the secret of aligned teams?
What are the best skills for a digital nomad?

ABOUT THE METHOD:
“We create space for meaningful conversations, experimental and peer to peer learning. Nothing frontal, no preaching. But space for your very unique questions.”

ABOUT THE HOST:
Kitti is a digital nomad herself and a marketing consultant for innovative companies and early stage startups. She is a conversation ambassador for tedxdanubia, hosted meaningful conversations on ideas worth spreading. In the past years she worked in self organized teams, practiced facilitation, joined peer to peer networks, decentralized teams and cocreated a collective of freelancers. She is a cofounder of a sustainability startup that just secured its first round of investment. Worked as a mentor for many startups, and in the meantime she visited more than 15 countries.

Are you a Sri Lankan female entrepreneur or a local social business? Reach out for your discounted tickets!

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Karthik ( Associate Director, DTCC & Co-organiser of Hyperledger Chennai Meetup) will be here for the 2nd Hyperledger meetup.
He will share his experience with Hyperledger and Business application of Blockchain